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Possis Catheter Approved

The stock rises 3% on the news.

Medical-device maker

Possis Medical


received regulatory approval for a new catheter, sending its shares higher Monday.

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The device, known as the Fetch aspiration catheter, will be used to clear small, fresh blood clots and other debris from arteries using the company's AngioJet rheolytic thrombectomy technology.

Shares gained 3% to $10.60.